2022 Annual Comprehensive Financial Report

CITY OF SHAKOPEE NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2022

NOTE 6 – CAPITAL ASSETS

Governmental capital asset activity for the year ended December 31, 2022 was as follows:

Beginning Balance (Restated)

Balance Ending

Increases

Decreases

Governmental Activities:

Capital Assets not being Depreciated/Amortized:

Land

$ 24,993,664 1,180,011 5,206,035

$ 24,743,369

$

4,367,530 250,295 90,800

$

- -

Right-Of-Way

6,401,943 1,089,211

Construction in Progress

5,563,438

Total Capital Assets not being Depreciated/Amortized

32,234,523

4,708,625

5,563,438

31,379,710

Capital Assets being Depreciated/

Amortized: Buildings

73,771,060 186,221,897 27,148,007

207,041 1,521,099 9,108,012

15,000

73,963,101 195,329,909 27,924,748

Infrastructure

-

Machinery and Equipment

744,358

Leased Equipment (Intangible Right

to Use Asset) Total Capital Assets being Depreciated/Amortized

123,260

26,242

-

149,502

287,264,224

10,862,394

759,358

297,367,260

Less Accumulated Depreciation/ Amortization: Buildings Infrastructure Machinery and Equipment

19,083,602 105,512,313 12,486,300

1,624,183 5,479,382 1,629,787

14,251

20,693,534 110,991,695 13,701,265

-

414,822

to Use Asset) Total Accumulated Depreciation/ Leased Equipment (Intangible Right

-

39,290

-

39,290

Amortization

137,082,215

8,772,642

429,073

145,425,784

Total Capital Assets being Depreciated/ Amortized, Net

150,182,009

2,089,752

330,285

151,941,476

Governmental Activities Capital Assets, Net

$182,416,532

$ 6,798,377

$ 5,893,723

$183,321,186

Depreciation/amortization expense was charged to functions/programs of the City as follows:

Governmental Activities: General Government Public Safety Public Works Parks and Recreation Economic Development

737,678 $ 371,883 5,636,405

1,976,935 49,741 8,772,642

Total Depreciation/Amortization Expense- Governmental Activities

66